SMIC Posts Quarterly Results And Shuffles Management

March 29, 2005 | Print | Email Email | Comments | Category: Gadgets & Electronics



    Semiconductor Manufacturing International Corporation (SMI) announced its consolidated results of operations for the three months ended December 31, 2004. Sales increased 6.2% in the fourth quarter of 2004 to $291.8 million from $274.9 million in the prior quarter.

    Income (loss) attributable to holders of ordinary shares decreased in the fourth quarter of 2004 to a loss of $11.2 million from income of $39.3 million in the prior quarter. Income attributable to holders of ordinary shares in the fourth quarter of 2004, excluding the incurrence of an expense of $23.2 million relating to the settlement of SMIC's litigation with Taiwan Semiconductor Manufacturing Company Limited (TSMC), would have been $11.9 million.

    SMIC also announced that it has appointed Ms. Morning Wu as the company's acting Chief Financial Officer and Chief Accounting Officer with immediate effect.

    Ms. Wu replaces Ms. Jenny Wang, who resigned as the Chief Financial Officer and Chief Accounting Officer of the Company on March 28, 2005 to enable her to pursue other business interests.

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